With “La Razón”, Carlos Gill recognized in 2019 that his annual earnings were between 9 and 93 million Bolivians ($1.3mn and $13.6 mn). He owns the newspaper for more than a decade. If we take an average, we add in the end a probable accumulated of 500 million Bolivians ($71 million). One hundred forty ex-employees fired from “La Razón” are preparing to fight for their severance pay. Director Claudia Benavente decided to throw them out on the first day of July without severance pay. She used the perfect excuse: the COVID-19.
Four months of inactivity due to the quarantine left a negative balance that translates into $80 million that the state stopped receiving, compared to 2019. Also, it records a debt of $30 million that corresponds to aircraft rentals, aircraft engines and components, aviation services, personnel salaries and repair and purchase of spare parts.
The Asociación Accidental Tunari (AAT), which is executing the Cochabamba Metropolitan Train project, reported that the government owes it nearly 297 million bolivianos ($42.67 mn) in payroll and almost eight million ($1.15 mn) in interest. Additionally to this amount, Bs 330.6 million ($47.5 mn) have not yet invoiced for the progress of work as of December 2019. The debt caused the contract of the consortium formed by the companies JOCA from Spain, Molinari from Switzerland and the Bolivian State to be suspended due to default.
Empresa Metalúrgica Vinto could partner with an international mining company to pay off its debts for the Huanuni and Colquiri mines. The amount Vinto needs to meet obligations is $80 million, but initially the future partner will have to contribute $40 million.
After Amaszonas airline workers denounced that they are forced to make 50% discounts on their salaries, the company clarified that the balances of the April, May and June salaries will be paid in a period of six months starting in January 2021.
The airline’s financial statements as of December 31, 2019, reflect a loss of $28 million, another $10 million was charged directly to the Accrual Account, with a combined effect of $40 million of decrease in the company’s equity. With the pandemic, the situation is more critical; the company has stopped receiving $60 million.
Tecnopor SA, one of the country’s leading manufacturers of expanded polystyrene and pre-stressed beams, dismissed 52 of 72 workers from its La Paz branch. The company took this action because its sales fell by 75% due to the coronavirus pandemic.
The national government has decided to approve the rescue plan for Bolivia’s state-owned airline, BoA, and is managing the delivery of $25 million of the $50 million the airline needs to overcome the economic crisis
The Government owes two invoices for the metropolitan train that total 250 million Bolivianos ($35.9 mn), pending since September 2019, and another Bs 8 million ($1.5 mn) for interest, established according to contract in case of non-payment. The work paralyzed at two-thirds of its progress.
The oil company Shell Corporation Bolivia Branch filed an arbitration against YPFB and demanded that it pay 26 million dollars for outstanding debts that were recognized and not paid.